IRA, SEP, Other Retirement Funds - First State Bank can serve as custodian of your IRA and can assist you in establishing your other tax deferred retirement plans for you and your employees.
Custodian – First State Bank can serve as custodian of your IRA and can assist you in establishing your other tax deferred retirement plans for you and your employees.
Estate Services – An Estate is simply all of the assets one owns. First State Bank can serve as executor of a customer’s Last Will and Testament and provide expert services to the customer’s estate. The family of the deceased can benefit from First State Bank’s expertise and experience in handling estates and investments and it relieves a burden during a difficult time.
Farm Management – First State Bank can serve as farm manager of a customer’s agricultural assets. The Bank has had years of experience managing farms and preserving farm assets. This service helps absent landowners, retired landowners and heirs without any farming experience.
Escrows – First State Bank can serve as escrow agent for real estate and other deferred payment contracts. The Bank will provide bookkeeping services, collect and distribute the income and deliver the deeds and assets when the obligation is paid.
Conservatorship – First State Bank can serve as conservator of a customer’s property when the customer, because of a disability, may wish to receive assistance in handling their financial affairs by paying bills, managing property and investments and preparing personal income tax information.
Trusts – A Trust is a written agreement in which a designated person, or trustee, manages property for the benefit on an individual or organization. First State Bank can advise you on the type of trusts available, in making decisions on the advisability of a trust to you and can assist you in having a trust setup and act as the trustee, if requested. Living Trusts, Testamentary Trusts, and Irrevocable Life Insurance Trusts (ILIT) are examples of trust types that can be established.
Burial Trusts – First State Bank can serve as trustee of a customer’s burial trust. A burial trust is funds set aside to pay for funeral services and burial. We can work with you and the funeral home of your choice to set up the Trust.
Agency Accounts - Designed to manage routine budgets, bill paying, and financial transactions, Agency Accounts allow Trust Departments to manage personal and financial affairs.
Other Services Provided Through the Trust Department:
Investment Counseling, Scholarship Management, Endowments, Church Building funds, clerking services, and serving as Power of Attorney.